Town Vending Committee approves 11 LoR for street vendors of Hailakandi district

Oct.14: 11 numbers of Letter of Recommendation (LoR) under PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi has been approved by Town Vending Committee here on Wednesday. Presiding over the Town Vending Committee and ULB Level Committee meeting at DC’s conference hall, Additional Deputy Commissioner cum Executive Officer, Hailakandi Municipal Board, Deepmala Goala said the PM SVANidhi scheme aims to empower street vendors by not only extending loans to them, but also for their holistic development and economic upliftment.

Goala said the 11 numbers of LoR would be ceremonially distributed to the selected street vendors at a function to be held later. She urged the street vendors to come forward and to apply for the loan at the Community Service Centres (CSCs) or in case of any difficulty to contact the Office of City Project Manager, NULM, Hailakandi to ameliorate their economic lot.

City Project Manager, NULM, Hailakandi, Mahbubur Rahman Laskar gave an overview of the scheme and the criteria to be fulfilled to get the loan. PM SVANidhi scheme intends to facilitate collateral free working capital loans of up to Rs.10,000 of one-year tenure, to approximately 50 lakh street vendors, to help resume their businesses in the urban areas, including surrounding peri-urban and rural areas.

The scheme offers incentives in the form of interest subsidy @ 7% per annum on regular repayment of loan; cashback up to Rs.1200 per annum on undertaking prescribed digital transactions; eligibility for enhanced next tranche of loans. The PM SVANidhi scheme is available to all street vendors who are engaged in vending in urban areas as on or before March 24, 2020.

The eligibility criteria for availing the loan are that the street vendors must be in possession of Certificate of Vending/Identity Card issued by Urban Local Bodies (ULBs) The vendors, who have been identified in the survey but have not been issued Certificate of Vending/Identity Card; Provisional Certificate of Vending would be generated for such vendors through an IT based Platform. ULBs are encouraged to issue such vendors the permanent Certificate of Vending and Identification Card immediately and positively within a period of one month.

Street vendors, left out of the ULBled identification survey or who have started vending after completion of the survey and have been issued LoR to that effect by the ULB/TVC. The vendors of surrounding development/peri-urban/rural areas vending in the geographical limits of the ULBs and have been issued LoR to that effect by the ULB/TVC.